Ray White Mountain Creek Buyers Guide 2018 2018 | Page 16

04
Buying
Bidding
It can be easy to get caught up in the moment when the auction
is in full swing, so it’s important that you set yourself some limits
and goals.
Consider your top bid while you're in a
calm and rational state of mind and stick
to it.
Stand right at the front with a good view of
the crowd and auctioneer - ask a question
right at the start to show you mean
business.
Start with a strong bid, then increase by
smaller increments.
Record the bids so you don’t lose track.
Keep calm and be aware of your body
language - give the impression you know
what you’re doing.
Private sale treaty
A private sale has no specified closing
date and is usually negotiated between
a buyer and vendor with the assistance
of an agent or legal representative.
Expressions of interest
Similar to a private sale/treaty except
that a formal written offer is submitted
for the property by a specific date.
If you don’t trust your emotions, consider
employing a buyer’s agent to bid for you.
Tip
Set your limit as an uneven number
People tend to think in round numbers so it could give you an edge. For
example, instead of $700,000 set your limit to $703,000.
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